Pakistan unlikely to impose new agriculture tax

The International Monetary Fund (IMF) does not expect Pakistan to implement a new tax on agriculture, it said on Friday (Nov 28), adding policy measures underpinning its PKR7.6 billion (US$96,618,352.99) loan will be published next week.

"The IMF-supported programme does not envisage a new tax on agricultural income," the fund said in a release. "Over the medium term, efforts will be made to extend the effectiveness of the income tax."

The IMF said it would soon publish all policy measures. It said earlier the programme's objectives were "to restore overall economic stability and confidence through a tightening of macroeconomic policies, and second, to do so in a manner that ensures social stability and adequate support for the poor during the adjustment process".